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UPDATE: Porsche could raise its stake in Rimac, and Rimac weighs in

CLARIFICATION: An earlier version of this Reuters story said Porsche could raise its stake in Rimac to nearly 50%, but Rimac reached out to Autoblog to say that's not so. Here is a statement from Mate Rimac: "We have a very strong partnership with Porsche that is key for Rimac Automobili. Porsche is a shareholder in Rimac since 2018 with 15.5% ownership currently, accumulated over several rounds of investment. While it is true that we are discussing further expansion of this collaboration that will lead to increase of Porsche's stake in Rimac Automobili, some media have mistakenly reported that Porsche would take over 50% or nearly 50% of the company.   We are very happy that the partnership with Porsche will strengthen even further, but it is in the interest of both Rimac and Porsche that Rimac is a fully independent company. We are working with many car companies that are not our shareholders and there is a clear separation between shareholding and projects. It is very important to us that our industry customers have the peace of mind that Rimac is independent and that there is an "Information Firewall" between projects and shareholders (not only Porsche, but also Hyundai and others) - and this will not change. Confidentiality is very valued in the industry and one of the basics for collaboration between companies. Our shareholders are happy with such an arrangement and expect the same level of professional behaviour and confidentiality for their projects and customer projects.   So, the point is: Porsche's stake will increase but nowhere near to 50% and Rimac will remain independent with many industry customers that are not our shareholders/investors." The original story, with the 50% reference removed, appears below.   FRANKFURT — Volkswagen unit Porsche is participating in a financing round of Rimac Automobili that will see the electric supercar maker raise 130 million-150 million euros ($157 million-$181 million), its owner Mate Rimac told weekly Automobilwoche. The fundraising should be completed in two to three months and another round is planned at the end of the year, Rimac told the trade journal. Porsche owns a 15.5% stake in Rimac Automobili and could raise its stake in a deal that would also include the transfer of Volkswagen's supercar brand Bugatti to Rimac, Automobilwoche said. Volkswagen and Rimac were not immediately available for comment on Sunday.

Porsche announces Cayman GT4 with 911 GT3 components

For years, there's been a debate among Porsche fans about which of its products is a better sports car, the 911 or the Cayman. It would only take a few sentences before those in the Cayman corner said that Porsche wouldn't make the Cayman as good as it could be for fear of overshadowing The Number One Son. We have a feeling these conversations are going to get a lot livelier with the introduction of the Cayman GT4, which pilfers lightly from the 911 Carrera S and heavily from the 911 GT3. On the outside, you can look to its front fascia, wheels, and fixed rear wing, and 30-millimmeter lower ride height for GT3 inspirations. Underneath, there's a 385-horsepower, 3.8-liter flat-six engine amidships, credited as being derived from the Carrera S. While there are those out there still lamenting the fact that the GT3 can only be had with a dual-clutch transmission, the Cayman GT4 "transmits its power solely through a six-speed manual transmission with dynamic gearbox mounts." Yeah. So take that. The extra power reduces the Cayman GT4's 0-to-60 mile per hour sprint to 4.2 seconds, a half second quicker than the 340-hp Cayman GTS, and bumps top speed up to 183 mph. An interesting nugget: Porsche says the Cayman GT4 runs the Nurburgring in seven minutes and 40 seconds, which it credits as the same time run by the 2011 911 GT3. Porsche has never offered a precise time for the current 911 GT3, saying only that it's "under 7:30," and Internet rumor (grab your salt lick) is that the not-yet-introduced GT3 RS has done a 7:20. We don't have all of its details yet – those will come closer to its introduction at the Geneva Motor Show next month – but we're told of a lot more 911 GT3 parts underneath, like the chassis that "consists almost entirely of components from the 911 GT3" and that all of its "technical aspects are based on the 911 GT3." If you want to take it further, the options sheet will include ceramic brakes and carbon fiber bucket seats. This new top-shelf Cayman gets to dealerships in the US in July with a starting price of $84,600 before a $995 destination charge. You'll find a few more bits of info in the press release below. A New Member of Porsche's GT Family The benchmark in its class: the Porsche Cayman GT4 Atlanta, Feb. 3, 2015 - Porsche's GT family is proud to announce the addition of an exciting new member: the Cayman GT4. This is the first Porsche GT sports car based on the Cayman and features components of the 911 GT3.

Automakers want to stop the EPA's fuel economy rules change, and why that's a shortsighted move

With a Trump Administration looming, the EPA moved quickly after the election to propose finalizing future fuel economy rules last week. The auto industry doesn't like that (surprise), and has started making moves to stop the EPA. Ford CEO Mark Fields said he wanted to lobby Trump to lower the standards, and now the Auto Alliance, a manufacturer group, is saying it will join the fight against cleaner cars. The Alliance represents 12 automakers: BMW, Fiat Chrysler, Ford, GM, Jaguar Land Rover, Mazda, Mercedes-Benz, Mitsubishi, Porsche, Toyota, VW, and Volvo. Gloria Bergquist, a spokesperson for the Alliance, told Automotive News that the "EPA's sudden and controversial move to propose auto regulations eight months early - even after Congress warned agencies about taking such steps while political appointees were packing their bags - calls out for congressional action to pause this rulemaking until a thoughtful policy review can occur." The EPA was going to consider public comments through April 2017, but then said it would move the deadline to the end of December. That means that it can finalize the rules before President Obama leaves office. The director of public affairs for the Consumer Federation of America, Jack Gillis, said on a conference call with reporters last week when the EPA originally announced its decision that it is unlikely that President Trump will be able to roll back these changes. Gillis also said on the same call that any attempt by the automakers to prevent these changes would be history repeating itself. "These are the same companies that fought airbags, and now promoting the fact that every car has multiple airbags," he said. "These are the same companies that fought the crash-test program, and now are promoting the crash-test ratings published by the government. So, it's clear that they're misperceiving the needs of the American consumer." There are more reasons the Allliance's pushback is flawed. Carol Lee Rawn, the transportation program director for Ceres, said on that call that the automotive industry is a global one, and many automakers are moving to global platforms to help them meet strict fuel economy rules around the world.